He continued: “A billion dollars of money? For a thing that kind of ruins your pictures?”

Daily Show "senior youth correspondent" Jessica Williams had Facebook's back, however, telling Stewart that the acquisition makes perfect sense, because Instagram is "awesome."

“Before Instagram, if I wanted my pictures to look like they were taken in the ‘60s, I’d have to invent a time machine and travel back 50 years," Williams said. "You know how much a time machine would cost to build?”

Easily a billion dollars, and the whole risk of screwing up the space-time continuum, Williams added.

The move (or at least the price-tag) certainly is perplexing, though perhaps not quite so much when viewed through the Pinterest lens. Facebook is worried about any potential hemorrhaging as the new, but instantly successful, social media start-up has begun to nip at its heels.

Of course, for fans of Instagram, the news isn't all that funny. As Forbes contributor Joshua Brown notes, it's quite possible that the app will be completely transformed under Facebook ownership.

Just look at what Facebook has done with...Facebook.

Anyone who has tried out the not-optional Timeline feature can testify that the endless tinkering and upgrades the social media giant subjects us to can make things worse pretty much overnight.

Brown is worried because "we know they’re going to destroy it with ads and all kinds of “upgrades.”

"From cool to lame in 60 seconds," he adds.

But at least the app's developers made a cool billion off it while it lasted.

Stewart also joked about the new Google Glasses, proving that the world of technology is almost as easily mocked as the world of politics.